Tuesday, July 31, 2018

KARN ~ Adulthood On Hold, Amazon Privacy Risks & More

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Adulthood On Hold

In a recent study by COUNTRY Financial only 25% of Americans think adulthood occurs when people turn 18.  1 in 3 do not feel that adulthood begins until after they achieve financial independence at age 26!  Though shocking sounding this is a reality many Millennials and their parents are experiencing.

53% of Americans 21 to 37 have received some form of financial assistance from a parent, guardian or family member since turning 21, with one-third (37 percent) of them receiving money monthly and more than half (59 percent) receiving money a couple of times a year. Support has been given by paying for a mobile phone (41 percent), groceries and gas (32 percent), to more pressing life needs such as rent (40 percent) and health insurance (32 percent).

As a parent what can we do?

  • Teach our children to save at an early age
  • Teach our children to budget
  • Say No (especially if it harms you the parent financially)
  • Keep student loan balances in check

Warning Signs You Need A New Financial Advisor

Making smart financial decisions may be one of the cornerstones of adulthood.  When we enter in to a partnership with a financial advisor we are often looking for someone we can work over the life time of our financial future.  Here are some signs that your financial advisor is not the right fit for you.
  • They don't communicate with you.  You are their customer.  Your calls and emails should be returned in a timely manner regardless how much you invest with them.
  • Surprise fees.  There are fees associated with different kinds of investments and trading.  Your financial advisor should go over all fees with you.
  • They don't ask about your goals.  This is your money and your future.  A good financial advisor should listen to your aspirations and work to help you achieve them if possible.
  • They don't listen.  Again your money they are investing.  In your partnership you and your financial advisor should be on the same page regarding risks and rewards and they do not judge your choices.

Amazon A Risk To Our Privacy?

It does seem like everything and everyone is after our private information..... and Amazon is no different.  Here are a few tips from USAToday to help reduce the risk to your privacy while using Amazon.

1.  Restrict Your Profile:  When you sign up with Amazon your profile is created automatically.  It contains comments, ratings, public Wish Lists, biographical information, and other interaction on the Amazon site.  You can change your account settings by following the steps listed HERE.

2. Keep Alexa on Track: Listen and DELETE your recordings.  Use commands that limit unintentional data sharing and create a PIN for access.

3. Delete Those Cookies:  All websites track what, where and when you click (one of the primary sources for market research).  Make sure you periodically empty out your browser history and cookies.

Arkansas Tax Free Shopping Aug. 4-5

Save some money on your Back to School shopping by taking advantage of the Arkansas Tax Holiday August 4-5, 2018.  Items like school supplies, clothing under $100 dollars, some sports equipment area all TAX FREE.  Online purchases are included in this as well.  More info HERE.

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